"My mom told me she has a lving will. That way she's going
to void probate"

I can't tell you how mny times I've heard this when a new
prson finds out I was a lving trust lawyer.

They go on to sy, "She got one of those frms at the seniors'
center. You knw, the one she can fill out hrself. They even
witnessed it for hr."

I hate it when this cmes up, because I have to set the rcord
straight, I have to let the prson know that a "living will"
and a "lving trust" are two different instruments tht serve
two different purposes.

One, the "lving will," is your statement that "If I am
trminally ill or mortally injured (I'm sing simple language
here to get the pint across), then don't hook me up to lfe
support that will never return me to lfe." It's the issue
that's currently bing fought in Florida, with Governor Bsh
signing a law to keep a wman alive over her family's wishes
and a curt ruling.

Her "living will" has nthing to do with avoiding probate. It
is a halth care document. Really it should be clled a "death
desire," but our sciety can't handle that bluntness.

A "lving trust," on the other hand, IS a prbate avoiding
document.

Basically, probate is sed to transfer property you own whn you die. If you have a wll, your executor uses the probate curt to carry out the terms of yur will. If you die without a wll, the laws of your state has sttutes that describe where your property ges and who is in charge of gtting it there.

So, if you don't own any prperty when you die, then (generally...there are lways exceptions) there is no need for prbate.

This is where the living trst steps in. It called a "lving" trust because it is created whle you are living.

When you crate a trust, you transfer title to yur property to the trustee of the trst. You, as an individual, no lnger own the property.

So, if you de, no probate is needed (remember, thre are always exceptions), since YOU dn't own the property. The property is wned
by the trustee of the trst. The trust instrument instructs him/her on wht to do with the property pon your death.

A "living trust" is a LOT mre complicated to set up and mintain than a "living will." They ccomplish different tasks.

So, when you har that a loved one has a "lving will to avoid probate," it mght be smart to ask a few qestions.

Good luck and until next tme,

Phil Craig

P.S. Feel free to frward this on to any friends.

© Phl Craig, All Rights Reserved

The article Living Trust... Living Will... What's the Difference? was Submitted by Phil Craig through Articles.GetACoder.com network. Here's the additional information: Phil Craig is a licensed ttorney and entreprenuer. He started practicing law at age 25 in 1979. He des not take on any more clents, but is advisor to some of the bggest names in the internet world. He shres his knowledge gained over the lst 25 years at his Living Trst Secrets newsletter site: click here=========> http://www.LivingTrustSecrets.com ** Attn Ezine editors / Site owners ** Feel free to reprint this article in its entirety in your ezine or on your site so long as you leave all links in place, do not modify the content and include our resource box as listed above. If you do use the material please send us a note so we can take a look. Thanks.

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